Bankruptcy Risks Mount for AA
10-25-2020, 07:08 PM
#41
Gets Weekends Off
Joined APC: Jul 2017
Position: CRJ9 CA
Posts: 4,083
Originally Posted by Trowserchilli
Who cares what you think. I first experienced the warm-ness of AA pilots 25yr ago. The ****ty first job I had rented sims and rooms for training at your Mecca in DFW.
That was when I first experienced being looked at down the nose of AA pilots in that building and no I’m not bitter, I never applied at AA, ever. Just never forgot my first introduction In this business to a bunch of people who didn’t think their crap stunk.
So best of luck to ya but I don’t give a rats ass what happens to your place.
That was when I first experienced being looked at down the nose of AA pilots in that building and no I’m not bitter, I never applied at AA, ever. Just never forgot my first introduction In this business to a bunch of people who didn’t think their crap stunk.
So best of luck to ya but I don’t give a rats ass what happens to your place.
10-25-2020, 08:19 PM
#42
Gets Weekends Off
Joined APC: Jul 2012
Posts: 370
Originally Posted by AirBear
https://investorplace.com/2020/07/aa...9FE8on8mYjyhvQ
Bankruptcy Risks Mount for Embattled American Airlines
10-25-2020, 09:49 PM
#43
Hire me
Joined APC: Jan 2007
Posts: 406
Originally Posted by Trowserchilli
Who cares what you think. I first experienced the warm-ness of AA pilots 25yr ago. The ****ty first job I had rented sims and rooms for training at your Mecca in DFW.
That was when I first experienced being looked at down the nose of AA pilots in that building and no I’m not bitter, I never applied at AA, ever. Just never forgot my first introduction In this business to a bunch of people who didn’t think their crap stunk.
So best of luck to ya but I don’t give a rats ass what happens to your place.
That was when I first experienced being looked at down the nose of AA pilots in that building and no I’m not bitter, I never applied at AA, ever. Just never forgot my first introduction In this business to a bunch of people who didn’t think their crap stunk.
So best of luck to ya but I don’t give a rats ass what happens to your place.
10-25-2020, 10:04 PM
#44
Perennial Reserve
Joined APC: Jan 2018
Posts: 11,503
Originally Posted by beancounter
LOL. The opinion of an unemployed analyst, written from the basement of his parent's house. Where do you clowns dig this stuff up?
Thu 11 Jun, 2020 - 5:13 PM ET
Fitch Ratings - Chicago - 11 Jun 2020: Fitch Ratings has assigned ratings of 'BB-'/'RR2' to a series of special facility revenue bonds guaranteed by American Airlines Group Inc. and American Airlines, Inc. The bonds are part of a series of revenue bonds issued in 2016 with various maturities through 2031. The bonds are issued by the New York Transportation Development Corporation and guaranteed by American. The proceeds will be used to refinance an upcoming maturity and to fund ongoing construction. The ratings are in line with Fitch's existing ratings on American's currently outstanding JFK revenue bonds. Fitch currently rates American at 'B'/Rating Watch Negative. The bonds are assigned to American Airlines Inc., but are guaranteed by both American Airlines, Inc. and American Airlines Group, Inc.
Separately, Fitch has updated its recovery analysis to reflect new debt that either has been issued or is likely to be issued through the remainder of this year to maintain sufficient liquidity as the airline works through the coronavirus downturn. The issuance of new secured debt reduces our estimated recovery prospects for American's secured creditors driving the ratings downgrade to 'BB-'/'RR2' from 'BB'/'RR1' for American's outstanding secured debt, and further dilutes the unsecured bond's position, driving the unsecured recovery rating to 'CCC+'/'RR6' from 'B-'/'RR5'. Fitch's actions on American's existing secured and unsecured debt are separate from the issuance of its proposed JFK revenue bonds.
Fitch Ratings - Chicago - 11 Jun 2020: Fitch Ratings has assigned ratings of 'BB-'/'RR2' to a series of special facility revenue bonds guaranteed by American Airlines Group Inc. and American Airlines, Inc. The bonds are part of a series of revenue bonds issued in 2016 with various maturities through 2031. The bonds are issued by the New York Transportation Development Corporation and guaranteed by American. The proceeds will be used to refinance an upcoming maturity and to fund ongoing construction. The ratings are in line with Fitch's existing ratings on American's currently outstanding JFK revenue bonds. Fitch currently rates American at 'B'/Rating Watch Negative. The bonds are assigned to American Airlines Inc., but are guaranteed by both American Airlines, Inc. and American Airlines Group, Inc.
Separately, Fitch has updated its recovery analysis to reflect new debt that either has been issued or is likely to be issued through the remainder of this year to maintain sufficient liquidity as the airline works through the coronavirus downturn. The issuance of new secured debt reduces our estimated recovery prospects for American's secured creditors driving the ratings downgrade to 'BB-'/'RR2' from 'BB'/'RR1' for American's outstanding secured debt, and further dilutes the unsecured bond's position, driving the unsecured recovery rating to 'CCC+'/'RR6' from 'B-'/'RR5'. Fitch's actions on American's existing secured and unsecured debt are separate from the issuance of its proposed JFK revenue bonds.
BB- signifies not investment grade which precludes a lot of potential bond buyers from even purchasing them, B is a step lower, and B- is a half step lower than that while CCC+ indicates ‘currently vulnerable and dependent on favorable economic conditions to meet its commitments.’
Well, that is what Fitch thinks, and they’ve been doing bond ratings for 106 years. They were also designated by the US Federal Reserve as one of The three NSROs (national statistical recognized organizations) rating agencies for the fed to use for judging creditworthiness of corporations (the other two being S&P and Moody’s) since 1975.
So it’s not just unemployed analysts in their mother’s basement that are saying AA’s financial position is precarious, and being concerned about the possibility scarcely makes one a clown.
10-25-2020, 10:58 PM
#47
Gets Weekends Off
Joined APC: Nov 2006
Posts: 492
Originally Posted by PeterGriffin
I’m sure this has been mentioned several times, and I know the schedule is still dramatically reduced, but, just flew American this weekend and both flights, one a e175, the other an A321 were completely full...terminal was very crowded as well...
10-26-2020, 02:54 AM
#49
Banned
Joined APC: May 2017
Posts: 2,012
Originally Posted by PeterGriffin
For what it’s worth, I was on a full fair ticket that wasn’t any cheaper than it was last year...
and yeah, it’s not bodies it’s revenue. Recent quarter had revenue down 86%. That’s roughly a 777 CA to 145 FO level revenue drop
10-26-2020, 03:49 AM
#50
Gets Weekends Off
Joined APC: Jan 2011
Posts: 150
Originally Posted by ZeroTT
terminal is crowded because they have eliminated banks. 100 flights show up at once things do get crowded, but it only happens twice a day now.
and yeah, it’s not bodies it’s revenue. Recent quarter had revenue down 86%. That’s roughly a 777 CA to 145 FO level revenue drop
and yeah, it’s not bodies it’s revenue. Recent quarter had revenue down 86%. That’s roughly a 777 CA to 145 FO level revenue drop
Yeah, I totally get it, but, just saying, compared to April, when O’hare was a ghost town, it’s coming back...painfully slow, but people seem to be thinking, just mask up and go...just an observation from someone who’s been riding on you guys maybe once a month or so through this whole thing...I don’t get to see it on a day to day basis like you guys do, though.
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